Ruwad approves funding for three new Sharjah projects worth Dhs1.8 million

The Sharjah Entrepreneurship Foundation (Ruwad),affiliated with the Sharjah Economic Development Department (SEDD), has approved funding for three projects in the Emirate, totalling Dhs1.8 million.

This was announced during the 38th meeting of the Foundation’s Project Financing Committee, chaired by Hamad Ali Abdullah Al Mahmoud, Chairman of the SEDD.

The meeting agenda included reviewing project funding applications.

The committee approved direct funding of Dhs400,000 for a professional project in Kalba, and Dhs400,000 for an industrial project in Sharjah under the direct funding scheme supporting the industrial sector. Another industrial project was approved for Dhs1 million through indirect financing via a bank.

By mid-October, the total number of projects approved by the Project Financing Committee in 2025 reached 19, with total funding of Dhs5.66 million.

Hamad Al Mahmoud highlighted that the new approvals reflect Ruwad’s commitment to empowering Emirati entrepreneurs and enhancing their role in supporting comprehensive economic development in the emirate by providing suitable financial solutions that sustain and expand their projects locally and internationally.

He added that the committee continues to evaluate funding applications using strict criteria to direct resources toward economically viable projects, boosting Sharjah’s business competitiveness and supporting the emirate’s goals of nurturing entrepreneurship and creating growth opportunities for national projects.

The meeting also reviewed the 2025 funding balance and funding decisions made so far this year.

Meanwhile in September Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad) approved financing applications for four new entrepreneurial projects in the Emirate of Sharjah, with a total value of Dhs670,000.

The approval was given during the 37th meeting of the Ruwad’s Project Financing Committee of the Sharjah Foundation for Supporting Entrepreneurial Projects (Ruwad), affiliated with the Sharjah Economic Development Department (SEDD).

Hamad Ali Abdullah Al Mahmoud, Chairman of SEDD, who chaired the meeting, emphasised that the financing services provided by the Foundation to support Emirati entrepreneurs who own small and medium enterprises in the emirate represent a promising and ambitious investment that strengthens the future of the national economy and empowers our youth to be effective and influential partners in the comprehensive and sustainable development process in the UAE.

He confirmed that Ruwad continues its commitment to consolidating the global model established by the UAE in the entrepreneurship sector. This also reflects Sharjah’s position as a major incubator for creativity and innovation. Ruwad transforms ideas into inspiring projects and ambitions into true success stories, which can be considered a fundamental lever for building a diversified knowledge-based economy that keeps pace with the future and anticipates its broad horizons and rising trends.

The meeting reviewed the list of projects that had submitted funding applications. Four projects received approval under the Foundation’s direct funding system. These projects were distributed by city: three in Sharjah and one in Kalba. By type of activity, three projects were in the professional (service) sector, and one project was in the commercial sector.

The projects that received funding approval were divided into three projects owned by Emirati female entrepreneurs, while the fourth project was owned by an Emirati entrepreneur. By the end of the third quarter of 2025, the total number of projects approved for financing by the Foundation had risen to 16, with a total financing value of Dhs3,860,000.

As part of the meeting agenda, attendees reviewed the remaining financing balance for 2025. The committee decided to raise the financing ceiling allocated for the fourth quarter to Dhs1,500,000, in response to the growing demand from entrepreneurial projects seeking financing services provided by the Foundation, whether through direct or indirect financing.

The Sharjah Foundation to Support Pioneering Entrepreneurs (Ruwad), affiliated with the Sharjah Economic Development Department (SEDD), funded five new projects with a total value of Dhs1.2 million during the first half of 2025.

According to its semi-annual report, the funding included three professional projects and two commercial ventures. During the same period, Ruwad accepted 237 new projects into its membership programme and conducted 161 field visits to member enterprises. It also offered 69 specialised consultations, held 282 interviews with entrepreneurs, and responded to over 7,000 inquiries via phone.

WAM